Carlyle Group Inc. Sells 164,877 Shares of QuidelOrtho Co. (NASDAQ:QDEL) Stock

Posted by Tyrone Williams on Aug 1st, 2024

QuidelOrtho Co. (NASDAQ:QDEL – Get Free Report) major shareholder Carlyle Group Inc. sold 164,877 shares of QuidelOrtho stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $39.11, for a total value of $6,448,339.47. Following the sale, the insider now directly owns 9,128,748 shares in the company, valued at approximately $357,025,334.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Carlyle Group Inc. also recently made the following trade(s):

On Monday, July 29th, Carlyle Group Inc. sold 158,090 shares of QuidelOrtho stock. The stock was sold at an average price of $38.85, for a total transaction of $6,141,796.50.
On Friday, July 26th, Carlyle Group Inc. sold 103,926 shares of QuidelOrtho stock. The stock was sold at an average price of $39.05, for a total transaction of $4,058,310.30.
On Wednesday, July 24th, Carlyle Group Inc. sold 214,732 shares of QuidelOrtho stock. The stock was sold at an average price of $38.97, for a total transaction of $8,368,106.04.
On Monday, July 22nd, Carlyle Group Inc. sold 135,241 shares of QuidelOrtho stock. The shares were sold at an average price of $35.31, for a total value of $4,775,359.71.
On Friday, July 19th, Carlyle Group Inc. sold 65,636 shares of QuidelOrtho stock. The stock was sold at an average price of $34.12, for a total value of $2,239,500.32.
On Wednesday, July 17th, Carlyle Group Inc. sold 69,637 shares of QuidelOrtho stock. The shares were sold at an average price of $34.81, for a total transaction of $2,424,063.97.
On Monday, July 15th, Carlyle Group Inc. sold 93,187 shares of QuidelOrtho stock. The stock was sold at an average price of $31.70, for a total value of $2,954,027.90.
On Friday, July 12th, Carlyle Group Inc. sold 57,253 shares of QuidelOrtho stock. The shares were sold at an average price of $32.35, for a total value of $1,852,134.55.
On Wednesday, July 10th, Carlyle Group Inc. sold 24,390 shares of QuidelOrtho stock. The shares were sold at an average price of $30.09, for a total value of $733,895.10.
On Monday, July 8th, Carlyle Group Inc. sold 59,973 shares of QuidelOrtho stock. The stock was sold at an average price of $30.39, for a total transaction of $1,822,579.47.

QuidelOrtho Trading Up 6.9 %

QuidelOrtho stock traded up $2.71 during trading hours on Thursday, reaching $42.00. 2,289,374 shares of the company’s stock traded hands, compared to its average volume of 1,091,665. QuidelOrtho Co. has a fifty-two week low of $29.74 and a fifty-two week high of $84.79. The firm’s 50 day moving average is $36.87 and its 200-day moving average is $45.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.81 and a current ratio of 1.55. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -1.55 and a beta of 0.07.

QuidelOrtho (NASDAQ:QDEL – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.15. The firm had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $613.51 million. QuidelOrtho had a negative net margin of 61.65% and a positive return on equity of 3.96%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. On average, analysts predict that QuidelOrtho Co. will post 1.85 earnings per share for the current year.

Institutional Trading of QuidelOrtho

Hedge funds have recently modified their holdings of the company. Fifth Third Bancorp increased its stake in QuidelOrtho by 907.3% in the second quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock valued at $27,000 after purchasing an additional 744 shares in the last quarter. GAMMA Investing LLC increased its position in shares of QuidelOrtho by 27.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $59,000 after buying an additional 378 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of QuidelOrtho in the 1st quarter valued at $86,000. Innealta Capital LLC bought a new stake in shares of QuidelOrtho in the second quarter worth about $102,000. Finally, Cetera Trust Company N.A acquired a new stake in shares of QuidelOrtho during the fourth quarter worth about $108,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of QuidelOrtho in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $57.60.

Get Our Latest Analysis on QuidelOrtho

QuidelOrtho Company Profile

(Get Free Report)

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.